USDJPY Daily Forecast: March 11

By IBT Staff Reporter On 03/10/10 AT 10:28 PM

USDJPY Forecast:

The USDJPY attempted to push higher yesterday, slipped above 90.50, topped at 90.82 but still unable to move consistently above 90.50 so far. This fact could produce another false breakout scenario which could trigger a bearish momentum testing 89.50 area. The bias is neutral in nearest term but we are still in a major bearish outlook. The bullish correction scenario with technical target around 91.50 remains intact but we need a consistent move above 90.50 to continue the bullish momentum.